LG Corp to invest ₹1,000 cr for R&D centre: Noida authority
The company will set up the centre in Sector Phase-II Industrial Plot, spread over 27,129 square metres area
NOIDA: The Noida authority on Wednesday said that South Korean firm LG Corp, a holding company of the LG Group, will set up a Global Research and Development (R&D) Centre in the city with an investment of ₹1,000 crore, creating approximately 500 jobs.
A high-level LG delegation met Noida authority’s chief executive officer (CEO) Lokesh M on Tuesday and discussed the project in detail including finalising plans related to their new investment in the region, said officials.
Noida authority has allotted 27,129 square metres of land for the project.
“We have allotted the land for this mega project because it will not only create jobs but also boost the economy. Since we have allotted the land, the LG delegation came to appreciate the process and also discussed the project. It is a big step for Noida because it will employ our Indian engineers,” said Lokesh M.
The company will set up the centre in Sector Phase-II Industrial Plot, spread over 27,129 square metres area.
“The authority board has already approved the project because it is of paramount importance for this region and also for Uttar Pradesh,” the CEO said.
“The establishment of this state-of-the-art facility underscores LG’s focus on innovation and technological advancement and is expected to significantly boost Noida’s standing as a hub for high-tech research and development,” he added.
LG officials were unavailable for comments.
